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Chemical Week Magazine :: Newsbriefs
Fuller’s Earnings Slide on Higher Raw Material Costs
12:47 PM MDT | September 26, 2008 | Chemical Week Editorial Staff
Volpi: ‘Still lost ground.’ H.B. Fuller reported third-quarter net income from continuing operations of $21.7 million (44 cts/share), down 24% compared with the same period last year. The most recent period included a 9 cts/share benefit related to the valuation of deferred tax assets in Brazil. Fuller attributes the earnings decline to “rapidly rising raw material costs and a lag in realized selling price increases.” Sales rose 3%, to $362 million, on favorable currency exchange rates and higher average selling prices. “Our pricing...
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